Date: 08/01/2025
Last November, we had the opportunity to participate in a panel discussion at GTR Nordics in Stockholm, focusing on “The State of Trade Finance Digitization: Where We Are, and Where We Need to Be.” In a dynamic exchange with industry leaders, we explored the transformative journey of trade finance digitalization, uncovering both groundbreaking advancements and the challenges that lie ahead.
Represented by our Chief Revenue Officer, Baptiste Audren, we engaged in a compelling dialogue with industry leaders, including Urs Kern from Swift, Jacco De Jong from TradeWiz, and Dijana Copic from Siemens Healthineers.
The conversation highlighted the dynamic changes inherent to modern trade finance, with a focus on recent innovations and the critical challenges facing the sector.
Key Takeaways:
1. A Personalised Approach: Trade finance is inherently diverse, with unique requirements across different sectors and countries. This diversity has driven us to develop a more personalized approach for each client over the past few years. Our experience has shown that success lies in dedicating time and effort to create tailored solutions that address specific needs, rather than relying on all-in-one standard solutions.
2. A Pragmatic Implementation: With this personalized approach in mind, it is essential to adopt a pragmatic, clear strategy for each new project. Not everything is possible at once, everywhere. The specific timeline, systems, goals, and processes of each institution must be considered to ensure that projects meet their intended goals effectively.
3. Defining Success Metrics: Finally, once a project is defined, establishing clear metrics and targets is crucial for tracking progress during and after deployment. Knowing what you want to achieve and how to measure success is vital for any implementation, ensuring proper direction as well as closure.
A good exemple of the value of these tailored systems was provided by our privileged client and co-panelist, Siemens Healthineers.
They shared many insights on the way our tools supported their transformative journey from a decentralized to a centralized, standardized system, highlighting the importance of innovation in achieving greater clarity and efficiency within the Trade Finance sector.
The panel also emphasized the significance of collaboration and relationship-building within the industry, showcasing the power of such partnerships for anyone embarking on digital transformation.
A big thank you to GTR for bringing together key players and driving continued innovation and leadership in trade finance, as well as our co-panelists for their engaging contributions, and to Ingrid Hopp for her skillful moderation of the session.
